The fallout from the disastrous, Lord of the Flies-esque Fyre Festival is still going on, as organiser Billy McFarland was recently arrested and then released on bail on a wire fraud charge.

The entrepreneur was arrested on Friday and left Manhattan federal court on Saturday, reports CBS.

Joon Kim, U.S. Attorney for the Southern District of New York, said in a statement that: "As alleged, William McFarland promised a 'life-changing' music festival but in actuality delivered a disaster.

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"McFarland allegedly presented fake documents to induce investors to put over a million dollars into his company and the fiasco called the Fyre Festival. Thanks to the investigative efforts of the FBI, McFarland will now have to answer for his crimes."

Although he was released on a $300,000 bail, he could still face up to 20 years in jail if convicted.

Rapper and fellow organiser Ja Rule was not charged with wire fraud, but both men are facing multiple lawsuits following the Fyre Festival disaster.

Meanwhile, Ja Rule tweeted that he was "heartbroken" after the event became a disaster, adding everything that went wrong with the festival wasn't his fault.

"I don't know how everything went so left but I'm working to make it right by making sure everyone is refunded," he wrote. "I truly apologise as this is NOT MY FAULT... but I'm taking responsibility I'm deeply sorry to everyone who has inconvenienced by this."